World Intellectual Property Day

Every April 26, the World Intellectual Property Day is celebrated to learn about the role that intellectual property rights (patents, trademarks, industrial designs, copyright) play in encouraging innovation and creativity. The event was established by the World Intellectual Property Organization (WIPO) in 2000 to "raise awareness of how patents, copyright, trademarks and designs impact on daily life" and "to celebrate creativity, and the contribution made by creators and innovators to the development of societies across the globe".

While many countries did not appreciate the importance of intellectual property in the 1700s, by the late 1800s, many countries recognized the value of protecting inventions and creative works. In 1883, the Paris Convention for the Protection of Industrial Property was adopted to protect inventions, and in 1886 the Berne Convention for the Protection of Literary and Artistic Works was adopted to improve copyright protections.

Over the next 90 years, further intellectual property treaties were adopted and the World Intellectual Property Organization (WIPO) Convention took effect in 1970. As of today, there are 188 members of WIPO, and the organization administers 26 different treaties relating to intellectual property, writes deseretnew.com.

According to Amit Kapoor Chair, Institute for Competitiveness, India's intellectual property (IP) regime has witnessed steady progress ever since the country became a signatory to the TRIPS agreement of the World Trade Organization, which entered into force in 1995. Post this, many laws have been amended/passed in India to support the process of economic development and balance national priorities with concerns of domestic and international companies wanting to invest in India.

Prominent among these have been the Patent Amendment Act of 2002 & 2005, the Trademark Act of 1999 (amended in 2010), the Copyright Act (amended most recently in 2012), the Plant Varieties Act of 2001, the Geographic Indication of Goods Act, 1999 and the Design Act of 2000. Apart from the national acts, India is also now a signatory to many international treaties and conventions which showcase the country's commitment to IP.

However, India is at the bottom of global indices like the Intellectual Property Rights Index of the US Chamber of Commerce. It is placed 37th out of 38 countries considered for the index in 2016. It has also been put on the United States Trade Representative's Special 301 report under 'priority watch list' for 2015 and has been there for a significant period.